owner asks me how much money Ill give him for his property

[Account Closed]

What do I do if the owner asks me how much money Ill give him for his property on the cellphone but I haven’t ran the comps yet?

[Joe Villeneuve]

1 - Tell him you can't until you run the numbers, then...

2 - Tell him a specific time (in the very near future) you will call him back, but...

3 - Don't give him a range if you have no idea what the price should be.  You could be way off, or a little off,...or worse, you just committed yourself to a high and a low.  What if the price you came up with is on the high side?  You would have given them their starting point for negotiating.

Whoever first said, when referring to negotiating, "whoever speaks first, loses" was wrong (I softened that up from what I really wanted to write).  The person who speaks first is the one that sets the starting point for negotiations...in their favor, and establishes their control.  The one that speaks after, lost control.  The key, is to know your numbers...and don't negotiate against yourself.